PEDEVCO (NYSEAMERICAN:PED) Stock Price Crosses Below 200-Day Moving Average of $1.11

Defense World · Apr 29, 2023 16:14

Shares of PEDEVCO Corp. (NYSEAMERICAN:PED – Get Rating) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.11 and traded as low as $0.88. PEDEVCO shares last traded at $0.90, with a volume of 77,560 shares.

Analysts Set New Price Targets

PED has been the subject of a number of research analyst reports. EF Hutton Acquisition Co. I reiterated a "buy" rating and issued a $2.40 price target on shares of PEDEVCO in a report on Thursday, March 30th. StockNews.com downgraded PEDEVCO from a "hold" rating to a "sell" rating in a research note on Friday, March 24th.

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PEDEVCO Stock Up 1.5 %

The business has a 50-day moving average price of $1.07 and a 200-day moving average price of $1.11. The company has a market capitalization of $76.92 million, a price-to-earnings ratio of 30.01 and a beta of 1.16.

Insider Transactions at PEDEVCO

In other PEDEVCO news, CEO Simon G. Kukes purchased 263,931 shares of the company's stock in a transaction that occurred on Thursday, March 30th. The shares were purchased at an average cost of $0.94 per share, with a total value of $248,095.14. Following the completion of the transaction, the chief executive officer now owns 6,391,497 shares of the company's stock, valued at $6,008,007.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Simon G. Kukes bought 263,931 shares of the company's stock in a transaction on Thursday, March 30th. The shares were bought at an average cost of $0.94 per share, with a total value of $248,095.14. Following the transaction, the chief executive officer now directly owns 6,391,497 shares in the company, valued at approximately $6,008,007.18. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Moore Clark sold 174,666 shares of the company's stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $1.05, for a total value of $183,399.30. Following the sale, the vice president now owns 600,334 shares of the company's stock, valued at approximately $630,350.70. The disclosure for this sale can be found here. 68.50% of the stock is owned by insiders.

Institutional Trading of PEDEVCO

A number of hedge funds have recently modified their holdings of PED. Dimensional Fund Advisors LP raised its holdings in shares of PEDEVCO by 224.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 41,197 shares of the company's stock worth $56,000 after buying an additional 28,497 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of PEDEVCO by 51.5% in the 1st quarter. Vanguard Group Inc. now owns 904,719 shares of the company's stock worth $1,222,000 after buying an additional 307,640 shares in the last quarter. XTX Topco Ltd increased its holdings in PEDEVCO by 44.7% during the 1st quarter. XTX Topco Ltd now owns 52,091 shares of the company's stock valued at $70,000 after purchasing an additional 16,083 shares in the last quarter. First Republic Investment Management Inc. acquired a new stake in PEDEVCO during the 1st quarter valued at $28,000. Finally, Jane Street Group LLC acquired a new stake in PEDEVCO during the 1st quarter valued at $30,000. Institutional investors own 4.80% of the company's stock.

PEDEVCO Company Profile

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PEDEVCO Corp. is an exploration and production company, which engages in the acquisition and development of oil and natural gas assets. It focuses on the operation of Permian and Denver-Julesberg Basins. The company was founded by Frank C. Ingriselli in September 2000 and is headquartered in Houston, TX.